Chairman of the Board 2020-2021
California State Treasurer Fiona Ma
Kirk Rossberg, Chairman of the Board, will welcome California State Treasurer Fiona Ma to the April 22nd full board meeting as a guest presenter. Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state’s history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position.
The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents.
One committee Treasurer Ma chairs, the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), helps clean and green our state. It awards sales tax exclusions for manufacturers that reduce pollution, while retaining jobs, including to companies that make electric vehicles, turn farm waste into energy, and produce jet fuel out of renewable sources.
California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year and provides transparency and oversight for an investment portfolio of more than $124 billion, approximately $34.8 billion of which are local government funds. She also is responsible for $93 billion in outstanding general obligation and lease revenue bonds of the state.